Puma Capital sidecar snapshot

Reinsurance sidecar: Puma Capital

Sponsor: Bridge Re/AHJ

Launched: May 2007

Latest size: $182.5m (as at April 2008)

Puma Capital sidecar details

Puma Capital was launched in 2007 with a capital base of $182.5m, designed with a three-year duration. Issued by Bermudian reinsurer Bridge Re, which is wholly owned by investment bank Dresdner Kleinwort, the reinsurance sidecar vehicle subsequently closed a year later, in April 2008, owing to weaker market conditions.